Jaguar is taking a break from introducing new products until 2025 and focusing all of its efforts on developing a new range of electric vehicles, reports France’s Le Monde.
The automaker’s “Reimagine” strategy, announced earlier this year, will see Jaguar go upmarket as it attempts to complete both a switch to electric and a segment shift. No longer satisfied with competing against the likes of Audi, BMW, and Mercedes, the British brand wants to enter Bentley territory.
Until then, Jaguar will reportedly lean entirely on its existing range of vehicles and will simplify engine and equipment offerings. With much of the range having been recently updated, it seems that it is hoping it can coast for the next three years.
Le Monde reports that no factories will be closed in that time, but the workforce may have to be shrunk. We have reached out to Jaguar for comment and will update this story when we receive a reply.
To be sure, Jaguar’s “Reimagine” strategy will be a dramatic one. Its new, all-electric lineup will consist of two crossovers and a two-door coupe. The least expensive vehicle offered will start at nearly £100,000 ($133,000 USD at current exchange rates) and all will offer “modern luxury.”
The strategy, being set by JLR’s new CEO Thierry Bollore, has already led to several dramatic decisions. Since his arrival, Bollore already cut two mid-size crossovers planned for Jaguar and Land Rover, canceled the new XJ at the last minute, and JLR said it was looking to cut 2,000 jobs over the past year.
While Jaguar’s shift to electric vehicles and its move upmarket may seem sensible, it is in lockstep with the wider automotive industry. And that may mean more competition when its vehicles actually make it to market.